From July 1 of this year, individual entrepreneurs and legal entities will be able to pay taxes using a single tax payment (UTP). This method of paying taxes was introduced as a pilot project, you can switch to it if you wish. From January 1 2023 all taxpayers will pay taxes in this way, if the experiment shows its effectiveness.
The EPP is based on a mechanism that was introduced in the Russian Federation for individuals. Its principle is quite simple: the taxpayer pays the amount, and the tax service directs it to its destination. However, for legal entities and individual entrepreneurs, the payment scheme is built a little more complicated, since their business activities have more categories of taxes and other terms for payment. The payment mechanism for legal entities and entrepreneurs provides for an additional obligation to send a notification of the calculated amounts of taxes, advance payments of insurance premiums 5 days before the due date of payment. Notification on the amounts of personal income tax for tax agents — no later than the 5th day of the month after the payment of income.
The form and format of the notification of the calculated amounts was approved by order of the Federal Tax Service of Russia No. ED-7-8 / 178@ dated .02.02.
The EPP provides for the sequence of offsetting payments. First of all, for debt, starting with arrears with an earlier date of occurrence and ending with a later date. Next, payments for taxes and contributions for which an obligation to pay has already arisen will be offset.
A single balance of settlements with the budget eliminates situations where an erroneously transferred tax on other details creates a arrears in one payment and an overpayment in another way and, as a result, the accrual of penalties.
It is expected that the EPP will be in demand by businesses, since such an instrument has a lot of advantages:
- there will be fewer errors when filling out payment orders for BCC, OKTMO, payer status and others, all the money will be credited to one account and distributed from there by the tax authority independently;
- calculation with the budget will be significantly simplified: to transfer a single tax payment, you must specify only the taxpayer’s TIN and the amount;
- you do not need to make payments for current taxes, you can regularly transfer a single payment and just keep track of its balance.
If, after paying all mandatory payments, there is an overpayment on the EPP account, the company or entrepreneur will be able to return these funds or leave them on account of future payments.
Source: press service of the Federal Tax Service of Russia in Sevastopol178